Boss Says: Indonesia's Crackdown on Illegal Imports Will Last Six Months
Breaking news: On July 19, Indonesian Minister Hasan officially announced the establishment of a special task force to crack down on illegal imported goods, effective from July 18 until December 31, 2024. It appears the crackdown will last for about six months, causing many entrepreneurs involved in Indonesian trade and e-commerce to break out in a cold sweat. Members of the special task force come from 11 ministries and agencies of the Indonesian government, namely: the Ministry of Trade; the Attorney General's Office; the Indonesian National Police; the Ministry of Finance; the Ministry of Industry; the Ministry of Law and Human Rights;
Boss Wang Says: Constant Turbulence – What's Next for Indonesia's Trade Business?
Different Ticket Prices and Purchasing Methods for the Indonesia International Auto Show
Boss Wang Says: The Importance of Compliance – Indonesia Cracks Down on Illegal Imports
TikTok Reportedly Plans to Enter Southeast Asia's Online Travel Agency Market
The Success Story of a Chinese Team Building Indonesia's Largest Ice Cream Brand
AiXue, Indonesia's largest ice cream brand, was built by a team from China? Yes, that's correct. It is also the brand founded in 2015 by Mr. Wang Jiacheng and his team, who were special guests on the CCTV-2 talk show "Departure to Indonesia" aired in July. Today, Manager Wang will share the details with you. First, in 2015, a startup team of over 10 people from China, most of whom had previously worked at Mengniu, started from scratch in Indonesia, beginning in a 15-square-meter underground garage, and founded AiXue Ice Cream Company. They achieved a remarkable 60-fold growth in just 7 years, becoming Indonesia's largest ice cream brand. The leader of this team is Mr. Wang Jiacheng. Recalling the early entrepreneurial journey, Mr. Wang spoke with deep emotion.
Indonesia's Ministry of Trade Joint Task Force Focuses on Cracking Down on Seven Categories of Illegal Imported Goods
The Special Staff of the Ministry of Trade for International Trade Agreements stated that a special task force to eliminate illegal imported goods will soon be established. The final draft regulating the work of this task force has been completed and is awaiting the signature of the Minister of Trade. He hopes this can be done within one to two days. The final draft is ready; it only needs the Minister of Trade's approval, and they can start working immediately. The task force will work to prevent unauthorized imported goods from entering the country. In addition to implementing Anti-Dumping Import Duties (BMAD) and Safeguard Import Duties (BMTP), this task force is also part of the plan to resolve disputes over illegal imports.
Congratulations on the Second Anniversary of the Indonesia Jiangsu Chamber of Commerce
rnrnOn July 13, 2024, the second anniversary celebration of the Indonesia Jiangsu Chamber of Commerce was grandly held at Sun City, Jakarta. Over the past two years, the Indonesia Jiangsu Chamber of Commerce has been committed to promoting the development of Jiangsu enterprises in Indonesia, continuously fostering exchanges and cooperation among member companies, and further enhancing economic and trade relations between Jiangsu and Indonesia.rnrnDuring the celebration, Mr. Guo Jiehong, President of the Indonesia Jiangsu Chamber of Commerce, Mr. Zhang Jinxiong, Chairman of the Indonesian Chinese General Chamber of Commerce, and Mr. Li Feng, Chief Representative of the China Council for the Promotion of International Trade (CCPIT) in Indonesia, delivered speeches in turn. President Guo introduced the achievements of the chamber in its second year and the future development plans to the attendees. Li Feng
Indonesia's New Capital Land Use Rights Can Extend Up to 190 Years
Indonesia's Trade Minister (Mendag) hopes that the new capital city (IKN) land use rights (HGU) permits, which are divided into two cycles, extend up to 190 years, and have been signed by President Joko Widodo, will make potential investors more willing to invest. Many investors are interested in investing in IKN, but there were no clear regulations regarding land permits. Granting HGU is seen as providing investors with certainty and clarity regarding land conditions when investing. Previously, the situation was unclear, so people did not know how to proceed with construction without any land permits. These regulations have just been finalized and signed by the President.
Guide for Outbound Investment and Cooperation - Indonesia 2023 Edition
Before preparing for investment and cooperation in the Republic of Indonesia (hereinafter referred to as "Indonesia"), you need to understand Indonesia's political, economic, social, and cultural environment, local laws and regulations regarding foreign economic and trade cooperation, issues to be aware of when conducting investment and cooperation, and how to deal with local governments, residents, media, and law enforcement agencies. The "Indonesia" volume of the "Country (Region) Guide for Outbound Investment and Cooperation" series will provide basic information and serve as your guide to understanding Indonesia.
Indonesia's New Capital Receives 421 Letters of Intent for Investment
The Nusantara Capital Authority (OIKN) has obtained 421 Letters of Intent (LoI). The Deputy for Financing and Investment of OIKN stated that the number of LoIs includes pioneer investors who have expressed serious interest in investing in IKN. Including pioneer investors, 45 companies have joined so far. On the other hand, OIKN targets to achieve IDR 100 trillion in investment by the end of 2024, and the department will continue to work toward this goal. To accelerate the achievement of this target, President Joko Widodo recently signed Presidential Regulation (Perpres) Number 75 of 2024 on July 11, 2024, concerning the acceleration of IKN development, which also includes incentives for investors. The former head of OIKN previously proposed the IDR 100 trillion investment target, stating on January 26, 2024, that the new capital's 2024 target is to achieve IDR 100 trillion in public and private investments.
Indonesia's Pharmaceutical Industry Still Highly Dependent on Imported Raw Materials
Indonesia's pharmaceutical manufacturing industry remains heavily reliant on imported raw materials for drug production. The upstream pharmaceutical raw material industry is underdeveloped and unable to supply the raw materials needed by the downstream pharmaceutical manufacturing sector. Indonesia needs continuous investment and research in pharmaceutical raw material development to reduce dependence on imported active pharmaceutical ingredients. The Acting Director General of Chemicals, Pharmaceuticals, and Textiles at the Ministry of Industry stated that about 90% of raw materials for the pharmaceutical industry still need to be imported, with the main source countries being China and India. The huge demand for imported pharmaceutical raw materials makes the industry highly dependent on the originating countries of imports.